I wonna be a stockbroker but dont knw how to go about starting off?

Answer 1

if you truly want to be a good stockbroker...

1) sell your soul to the devil
2) find a mentor - you have to have a good successful stockbroker mentor - even BEYOND an internship

Answer 2

I will tell you what I know, I was a broker for over 10 years and I finally gave it up. You have to pass a few difficult tests to get your license, and you have to have a company help you do this. Most large investment companies don't want someone like you that has no customers, so you should look for a smaller company to get started with. most of investing is common sense and after you get involved in it and learn the basics, you will know more that 1/2 the world. the problem with trying to be a broker is finding people to give you their money to invest. right now in American the national savings rate is nearly 0, which means no one has any money to invest. so if you can't get people to invest money, you make no commission and you make no money. it is as simple as that. so you have to either find a way to get 500 or more customer who have a little bit of money or a few people that have large amounts of money that they will let you invest it and play around with it a little so you can make a living for yourself. I now many people that passed their tests and worked as a broker for a number of years and gave it up, like I did, because of the reasons I just told you. it would be better if you could get your license and try to do it part time, which is possible and have another full time job where you can make a living..........that is what I would do if I were going to try it again. it is hard, but if you succeed, it is the best job in the world

Answer 3

To become a stockbroker you have to get a brokerage company to sponsor you. In other words to hire you. Then you have to pass the National Association of Securities Dealers Series 7 exam. And you're all set. Its like becoming a real estate agent or insurance salesman. No education necessary. Just get a company to sponsor you and pass the exam.

Answer 4

If you are getting a college degree, the closest field of study in college to this would be a major in finance. I would also strongly encourage you to take as much accounting and economics as you can include in your program as well. During your summers I would recommend finding one of the big brokerage firms and trying to get into their intern program. American Express, Merril Lynch, and Prudential Securities are all good prospects for internship programs. Be willing to do this internship for little or no pay and do everything that they will allow you to do. If you work hard during your first summer there and they invite you back for a second summer, see if they will allow you go get licensed at the companies expense. If you get that far I can promise you that they will hire you after graduation. The first 4 or 5 years in the business are tough. You'll be lucky to make $40k. After that, it gets much better. If you are not going to school your best bet is to go to one of the bigger companies and try and get a job there. It is primarily a sales job so you have to start selling at your interview.

Answer 5

First of all you should know everything about stocks and stock market. For this you can take a course offered by Stock Exchanges. Then comes the difficult part where you will need to find lot of money to buy a seat in the Stock Exchanges. It will cost crores of rupees for a single seat. If you can do both then you are on your way. Otherwise you can trade as a deputy to a registered stock broker who owns a seat in the Stock Exchange and for this you will need his permission. Regional stock exchanges are cheaper where few tens of lakhs of rupees will get you a seat. Rupees should be read as dollars if you are not in India. I believe to be a NYSE broker your seat will cost around a Million dollars.

Answer 6

You have to be specific what you want to become.. I presume you want to become a Full time stock trader..
You have to Read Read and Read.
Try investopedia.com- u can find many good sites if u just google
Read all the info u can about how money works
There are more markets than just equities.
No body will give u the Magic Formula.. U will have to find one for yourself
Go for Certification available in your country
and - Actually start trading - Atleast on Paper.
Slowly u will understand how this system works and yes.. Enjoy the whole proces...

Answer 7

Start as a bank teller. Take the required tests to move up the ladder to a banker, then investment banker. Surround yourself with people in the banking and investing industries. Also, try playing fantasy stock-market games.

Answer 8

Stock broker or stock trader?

If you want to trade yourself then you may pm or e-mail me and I provide you with link to brokerage company that offer to to trad 500 different instruments including currency